Finding tenants, Rental mgmt, Maintenance & Paying bills

Floor rise and their preferences

With many high rise buildings with at least 10 floors coming up in Chennai, here is what most renters prefer.

Ground floor – Preferred by families with kids. If you are buying a flat which is nearby a schools, go with the ground floor, finding tenants will be easy. If renters have toddlers or babies, they prefer ground floor.1st and 2nd floor – All round winners. You cannot go wrong with these floors as everybody likes them.3rd floor and up – Good for young families without kids or families with older kids. Not so good for older people. The biggest question that comes up is ‘what if the elevators don’t work because of power cuts or other reasons?’. Unfortunately, back up generators don’t work some times. In the past month alone we have had to show a house on the 6th floor in a well reputed building where elevators were not working because back up generator failed. The tenant had to climb 6 floors to take a look at the flat. While this is not common, it does happen.Top most floor – Not preferred by most renters because of heat issues. Builders have started to address this problem by throwing in free false ceiling throughout the house for home buyers.

So, in order of preference, most sought after flats are 1st and 2nd floor, ground floor, 3rd floor and up, top most floor. But there are always exceptions… for example, when you have a sea view, the higher the floor the more premium you pay to live there.